Kaiser Sticks on to $100,000 prediction – States Timing Does not MatterMay 25, 2019
Dr. Julian Hosp. states that Bitcoin is going to get more expensive than it is today. The future of Bitcoin performance is measured. This study is meant to identify the amount of time it will take for Bitcoin to reach the flow. The stock-to-flow ratio was studied for Gold, Silver, and Bitcoin.
At the rate of 657,000 BTC per year, Bitcoin will take 27 years to touch upon its total circulation of 17.7 million (stock). However, following the halving, the supply of Bitcoin will be slashed and reduced in annual flow to 328, 500 BTC.
Dr. Hosp stated, “In Bitcoin, even if the price goes up, you cannot produce more Bitcoin. It does not work, like gold, where you will be able to increase production. There is always the same amount of flow because it’s 12.5 Bitcoins for each minute. The production remains stable.”
Max Keiser, Co-founder of Heisenberg, stated “I never stopped making price predictions… I said it [Bitcoin] was going to a hundred thousand dollars and it was only a dollar, and I said all that publicly… it is still going to a hundred thousand dollars.”
He further stated that he will be sticking to his $100,000 prediction and that he was Bullish about Bitcoin in the long-term. He noted that it was not crucial about the exact timing about when Bitcoin will touch on these numbers, but it will likely outperform all other assets in the next 15 years. He felt that timing was a wrong way to approach the crypto. Timing the price is essential only to people who are investing and waiting to buy the cryptocurrency at a better price.
Kaiser stated, “I think when the Federal Reserve issued a statement which said that they’re moving the policy to permanent quantitative easing, which meant money printing would be done without end. Bitcoin is hard money, like gold, and it will respond well to hyperinflation and hyper-money printing.”
When the Federal Reserve announced quantitative easing, Bitcoin bottomed. Another reason was that the sellers were exhausted. These factors, in combination with the halving, has had the price of Bitcoin raise.
Kaiser remarked that since Bitcoin has proved itself as a store of value that it will be ideal for concentrating on the Lightning Network. The network will, in turn, provide to be a two-scale scalability solution for Bitcoin and will help improve its worth as a medium of exchange.